Soyabean trading range for the day is 5293-5509 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5293-5509.
Soyabean dropped tracking weakness in overseas prices pressured bumper global stockpiles
Soyabean production is estimated to rise by 14 per cent to nearly 119 lakh tonnes
India's edible oil producers' body urges members to cut prices to help consumers
At the Indore spot market in top producer MP, soybean dropped -157 Rupees to 5517 Rupees per 100 kgs.
Soya oil
Ref.Soya oil trading range for the day is 1225-1243.
Ref soyoil dropped on profit booking after prices seen supported as the vegetable oil market faces a significant squeeze due to lower output.
Oilseeds output is also expected to be down a tad at 23.38 mt as soyabean production was affected.
India’s Sept edible oil stocks at ports and pipelines rose 3.24 percent mom: SEA
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1260 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1094.1-1122.3.
Crude palm oil dropped in anticipation of higher global edible oil supplies.
Malaysia's palm oil inventories at end-October is pegged to rise 3.4% to 1.81 million tonnes, lifted by a plunge in exports amid shrinking output.
However downside seen limited as supply constraints due to the rainy season and strength in rival oils supported the market.
In spot market, Crude palm oil dropped by -20.7 Rupees to end at 1127 Rupees.
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